How To Prepare Your House for Trick-or-Treaters
Halloween Safety Tips for Homeowners Clear the walkways. Toys, rakes, errant stones — clear them all out of the way before trick-or-treating starts. (Wet leaves are an especially slippery culprit!) A quick clean-up is one of the easiest ways to make your home safer from slip, trip and fall hazards Light it up. Turn on your exterior lights, […]
Millennials and Home Insurance
More millennials are buying homes these days, as opposed to renting. By the end of 2018, this generation represented 45% of all new home mortgages, as stated in a Housing Wire article. One thing is certain, whether renting or purchasing a condo or a house, millennials need home insurance to protect them against damage to or loss of their property and against liability.
Renters Insurance
Your living space should be insured, whether you rent or own. Renters insurance covers loss or damage to your personal items in your rented space, due to a covered peril. How much coverage you need will depend on how many personal possessions you have and how valuable they are. Your deductible is also a factor – the higher the deductible, the lower your premiums are likely to be.
It is a good idea to create a personal property inventory, which may include photos, as a record of what you own. High-value items, such as an engagement ring, camera equipment, or a drone, need to go on a separate list, as they may be excluded from your general policy. You may need to purchase a personal property rider for such items.
Condo Insurance
Standard condo insurance is known as HO-6 insurance. It provides protection against covered perils for your condo unit. In addition, it provides personal liability protection and living expenses coverage, in case a covered event, such as a fire, makes your condo uninhabitable. This type of home insurance is also known as “walls-in” coverage because it protects individual units. The condominium association’s master policy covers the common areas of the building.
Before purchasing a condo insurance policy, it is a good idea to find out what is covered by the homeowners association or condo association’s master policy. This typically includes all common areas, including the exterior and roof of the building, the hallways, and the elevators. However, some types of master condo insurance policies are more comprehensive than others.
Condo insurance typically covers:
- The condo unit itself, including the walls and fixtures
- Personal property contained in the condo, such as electronics, furniture, and any moveable goods
- Loss of use: Costs of lodging and transportation if your unit has been made uninhabitable
- Personal liability: This covers legal costs and provides protection in case of lawsuits or claims made against you
- Loss assessment: Coverage for your individual share of condo association losses
Homeowners Insurance
If you are purchasing a home, you probably already know that homeowners insurance is not just a good thing to have but also required by lenders. In fact, your mortgage payments will likely have an amount tacked on that goes into escrow for your homeowners insurance premiums.
Homeowners insurance provides protection for your dwelling, your personal belongings, and other structures on your property. It also protects you from liability for injuries or damage to someone else’s property.
Whether you need renters insurance, condo insurance, or a homeowners insurance policy, our agent can help you find the coverage you need at the best available rates.
What Should You Do If Your Car Catches On Fire?
When it comes to auto insurance claims, car fires are relatively rare. But if you’ve ever seen a vehicle engulfed in flames, you know it can be a frightening scene. According to the National Fire Protection Agency (NFPA), there are about 200,000 vehicle fires each year in the United States – causing nearly $2 billion […]
Survey: Misplace Your Car Keys? You’re Not Alone.
Car keys are one of the top items people lose the most. How do you keep track of yours? Our recent survey of more than 2,300 respondents shows us where people commonly keep their keys (and how they find them if they go missing.) Check out the infographic below to see the results. Consistency is […]
Can Life Insurance Cover Student Loan Debt?
What Happens To Your Student Loans If You Pass Away? The short answer: It depends on the type of loans you have. Federal loans: Loans issued directly to a person through the U.S. Department of Education are discharged (“forgiven”) upon that person’s death, once the required documentation is submitted. Read more specifics about federal student […]
Storing an Emergency Water Supply: 6 Quick Tips
We’ve all seen the pictures on TV and social media of people stocking up on water before a natural disaster. Many times, store shelves usually full of water and other necessities are bare. Fortunately, there are steps you can take to ensure you and your family have clean, fresh and safe drinking water should you […]
Don’t Let These Common Myths Scare You Away from Life Insurance
Most people need life insurance. Not having it could be devastating to your family’s financial future in case the worst should happen. Life insurance is a complex, frequently misunderstood subject, surrounded by a multitude of myths. These myths can be dangerous if they scare you away from purchasing the life insurance coverage you need.
Common Life Insurance Myths Debunked
If You Are Young and Single, You Don’t Need Life Insurance
As a general rule, the younger you are when you purchase a policy, the less you pay for life insurance. Buying a policy at a younger age can lock you into lower rates. If you decide to marry and start a family in the future, it may be important to have coverage to provide for your spouse and dependent children. Even if you remain single with no dependents forever, there would still be funeral expenses in the event of your death.
Life Insurance Through Your Employer Is All You Need
Employer-sponsored life insurance is a valuable addition to an employee benefits package. But it is not likely to provide all the coverage you need. Most plans through work offer accidental death or small-term policies with low limits. The coverage may not be enough. Typically, these plans are not portable – if you left your employment for any reason, you could find yourself without coverage. At that point, to continue having life insurance, you would need to apply for a new policy based on your current age and health status.
You’re Better Off Investing Than Buying Life Insurance
Investments can be risky. If you rely on them solely and something goes wrong, there may be no way to provide for your family if you die. Having a life insurance policy in addition to your investments can help ensure your beneficiaries will have cash death benefits if something should happen to you.
I Can’t Get Life Insurance With Diabetes
Many life insurance companies will cover a range of health conditions. Some insurers specialize in high-risk cases. If you have diabetes and can demonstrate that you have it under control, you may qualify for life insurance at better rates than you might have suspected.
Life Insurance Is Too Expensive
In a recent study, researchers found that the majority of people surveyed overestimated the cost of life insurance, as reported on Forbes. Individual quotes depend on risk factors, such as age, lifestyle, and health condition. In 2021, the monthly cost of a $500,000 20-year term life insurance policy for a person 35 years of age is approximately $30 for males and $25 for females.
You Get a Better Deal If You Buy Life Insurance Online
Going online is a great way to research life insurance and a good way to find an agent. But it won’t get you lower rates. Life insurance costs are the same whether you buy online or in person. And you don’t get the same service when you shop online. Our agent can explain the terms on the application, help you determine how much coverage you need, and help you find the best available rates based on your age and health condition.
Do I Need Business Insurance for My Side Gig?
A side gig is a great way to earn extra cash. It is an opportunity to branch out on your own, and it could even grow into a full-time business that allows you to “quit your day job.” One thing to keep in mind while running a side hustle is the importance of protecting your business and yourself in case something goes wrong. To be fully protected, you may need business insurance.
Does Every Side Gig Need Business Insurance?
Whether or not you need business insurance depends on the level of risk associated with your side gig. If you are working on someone else’s house, you need insurance for protection against liability. On the other hand, if you are working from home as a writer, there is not much risk involved, and you may not need the protection. Consider the following to help you decide if you need business insurance for a side hustle:
- Are business packages delivered to your home?
- Do customers or clients come to your home?
- Do you use your vehicle for work?
- Do you handle any sensitive material or process payment information?
- Do you work with children or animals?
- Could anyone be injured or become ill as a result of your business?
- Could a major inventory loss or lawsuit wipe you out?
The main question to ask yourself is what happens if something goes wrong. If you stand to lose everything you have built, then you may need business insurance.
What Types of Gig Insurance Do I Need?
Each side business is different, and so are its insurance needs. A Business Owner’s Policy (BOP) may be a good place to start. This is a customized, packaged policy including different types of coverage you may need. A BOP generally includes property, liability, vehicle, business interruption, and crime insurance. Our agent can help you tailor a BOP to meet your specific requirements.
General Liability Insurance
General liability is basic coverage most businesses require. It protects you and your business from liability for bodily injury or damage to someone else’s property. Most BOPs include general liability coverage, plus property protections.
Professional Liability Insurance
Professional liability insurance is also known as errors and omissions (E&O) insurance. It provides protection against lawsuits and claims against your business based on alleged errors, negligence, or failure to perform. Typically, these policies cover legal costs associated with claims and any settlements or awards, up to policy limits.
Cyber Liability Insurance
Even small businesses are at risk for cyber-attacks. Hackers could break into your system and steal your clients’ personal information, which could lead to lawsuits for breach of privacy. Cyber liability insurance covers the cost of legal expenses and settlements associated with lawsuits resulting from cyber-attacks. It may also cover costs of notification, credit monitoring, retrieving data, fines and penalties, and client and personal identity theft loss.
The business insurance package you purchase for your side gig should be tailored to your unique needs. Speak with our agent for knowledgeable advice on how to protect yourself and your business.
The DIY Guide to Winterizing Your Boat
If your boat is kept in a cold winter weather area without heated storage, you will want to winterize before the first freeze sets in. You can pay someone else to winterize it for you, or save money by doing it yourself in a few simple steps.
Steps for Winterizing an Inboard/Outboard Drive Boat
Gather Your Tools and Supplies
A factory service manual could be an invaluable reference to help you locate all the drain ports and cooling units on your boat. You will also need tools and materials, including:
- Oil suction pump
- Lube injection pump
- Drain plug gaskets
- Screwdrivers
- Socket wrenches
- Combination wrenches
- RV antifreeze
- Fogging oil
- Oil filter
- Motor oil
- Bucket
Clean the Carburetor and Change the Engine Oil
First, change the oil and filter. Remove the dipstick and insert the suction hose in the dipstick tube to take out the old oil. Then replace the filter and add fresh oil.
Next, fill the gas tank with non-oxygenated fuel, add a fuel stabilizer, and run your boat to a landing. While the boat is still in the water, take the spark arrestor out of the carburetor and fog the engine. Take the boat out of the water on a trailer to perform the remaining steps.
Drain Off the Coolant
Tip the trailer and place a bucket under the hull drain. Use an open or box-end wrench to remove the hull plug. Get in the boat and start removing drain plugs or hoses near the top of the engine. Make sure to remove plugs or hoses from the oil cooler, block drain plugs, power steering cooler, and exhaust manifolds. Instead of screwing the drains open, you can remove the entire valve, for better drainage and to prevent the wings from breaking off.
When the boat is finished draining, reinstall all the plugs and hoses, except for the block drain plugs. Remove the hose attached to the thermostat housing, or the thermostat itself, and pour in RV antifreeze until it comes out of the block drains. Once it stops draining antifreeze, re-insert the hull and block drain plugs.
Lubricate Lower Unit
Take the bottom drain plug out of the lower unit, allow it to drain for a few minutes, and remove the upper vent plug. When all the old lube has drained out, use a screw-in pump nozzle to refill it with fresh high-performance lube. Put new gaskets in the vent and drain holes and reinstall plugs.
Charge the Battery
As a final step, remove the terminals and fully charge the battery. You can leave the charged battery in the boat or bring it inside and attach it to a maintainer. Now that winterizing is done, you can cover your boat until spring.
Get the Right Insurance Coverage
Boat insurance can help protect you against damage to your boat, new boat replacement, and liability for personal injury, property damage, or fuel spills. Our agent can help you find the right boat insurance policy to protect your investment.
What is a Medicare Supplement Plan?
If you’re approaching your 65th birthday and starting to research options for Medicare, navigating through all of your new health care choices can be overwhelming. In addition to enrolling in a Medicare plan to meet your anticipated needs, you’ll also have to decide if a Medicare Supplement plan is right for you. At Erie Insurance, we’re here to […]
